Flex Space with Warehouse
For Sale
$799,900
3821 Commercial St NE, Albuquerque, NM 87107
M-1 flex property with warehouse, office, loading, parking, and lifestyle amenities.
Property Size6,320 SF
Price / SF$126.57
Days on Market8
Property Features for 3821 Commercial St NE
General Information
Standard status
Active
Size
6,320 SF
Listing Agency:
The Maez Group
(505) 515-1719
Listed By:
Joseph E Maez · License #17921
Source:
Thesouthwestlife
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 28 at 8:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Maez Group
Investment Insights
Based on property information with market context.
This M-1 flex property combines three warehouse areas with a secure vault and approximately 2,325+/- sq ft of office and living space. The improvements also include a dedicated loading and unloading area, ample parking, and an RV site with dump. A pond, pool, and hot tub add further on-site amenities.
Located on a quiet street in Albuquerque, the property offers access to the Big I while maintaining a private setting. Its mix of industrial workspace, office and living areas, security features, and support amenities accommodates a range of operational requirements within a single commercial property.
Located on a quiet street in Albuquerque, the property offers access to the Big I while maintaining a private setting. Its mix of industrial workspace, office and living areas, security features, and support amenities accommodates a range of operational requirements within a single commercial property.
Key Highlights
- M‑1 commercial property with three warehouse spaces
- Approximately 2,325+/- sq ft of office and living areas
- Secure vault included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,197
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,123,940
$1.1M
Cap Rate 7%
$802,814
$802.8K
Cap Rate 9%
$624,411
$624.4K
Market Conditions
NOI Build-Up for 6,320 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$91.0K $14.40/SF
− Vacancy
−$4.6K −$0.72/SF
EGI
$86.5K $13.68/SF
− OpEx
−$30.3K −$4.79/SF
NOI
$56.2K $8.89/SF
Area
Albuquerque, NM
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,123,940
Cap Rate 7%
$802,814
Cap Rate 9%
$624,411
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $83,955 @ 7.0% cap · market cap 10.50%
Second Best
Flex RnD
$802.8K
$702.5K – $936.6K
NOI $56,197 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,025 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
844
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87107, NM
30,340
Population
13,441
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
92%
High-School Grad
14.6 sq mi
ZIP Area
2,078
Density / Sq Mi
$59,663
Median Household Income
$36,392
Median Earnings
$901
Median Rent
$282,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - M-1 flex property with warehouse, office, loading, parking, and lifestyle amenities.
Where is this flex space located?
The property is located at 3821 Commercial St NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: M‑1 commercial property with three warehouse spaces; Approximately 2,325+/- sq ft of office and living areas; Secure vault included
